Provident fund is a compulsory savings system paid by both employers and employees, which is mainly used to solve the housing problem. Enterprises shall abide by the provisions of relevant laws and regulations when withdrawing provident fund. Among them, regarding the scope of use of the provident fund, relevant laws and regulations stipulate that the provident fund withdrawn by an enterprise shall not be used to pay economic remuneration such as wages, bonuses, benefits and subsidies due to employees, nor shall it be used for investment, consumption or other business activities. What needs to be clear here is that the scope of use of the provident fund mainly includes the following aspects: house purchase, housing loan repayment, rental housing, serious illness medical care, retirement and so on. The purpose of enterprises to withdraw provident fund is generally to solve the personal housing problem of employees and protect the basic rights and interests of employees.
What are the specific steps for enterprises to withdraw provident fund? Enterprises need to apply to the provident fund management center first, submit relevant materials and pay corresponding handling fees. Under normal circumstances, the provident fund management center will review and decide whether to approve the enterprise to withdraw the provident fund within 10 working days.
The scope, conditions and restrictions of the enterprise's withdrawal of provident fund shall comply with the provisions of relevant laws and regulations. In practice, enterprises need to avoid all kinds of risks as much as possible to ensure the legal compliance of the application process. At the same time, we should also pay attention to the basic rights and interests of employees and create better working and living conditions for employees.
Legal basis:
Article 13 of the Regulations of People's Republic of China (PRC) Municipality on Housing Provident Fund shall not be used for other purposes.